Axie Infinity (AXS) Price Prediction: When Will the Bearish Tide Subside?

Axie Infinity (AXS) entered a bearish trend after a 5% negative performance in February. The steady decline in whale transactions and price volatility suggests that the bears may remain in firm control in the coming weeks.

Timeline of Axie-infinity

Wallet addresses associated with the exploit of Euler Finance and last year's hack of Axie Infinity's Ronin Network have interacted, stirring up speculations that North Korean hackers might also be behind the recent attack on Euler. 

Without doubt, there are several crypto projects out there that have the potential to rise exponentially but Pikamoon is in a world of its own as this project is projected to be one of the best-performing projects in Q1 2023 Introduction The first quarter of the year has been a relief for crypto investors especially

Norwegian authorities, in collaboration with the Federal Bureau of Investigation (FBI) and the U.S. Department of Justice (DOJ), have allegedly seized about $6 million that was stolen in last year's Axie Infinity heist. “It is the biggest crypto seizure Norwegian police have ever made,” said Norway's Økokrim.

After spending a considerable portion of 2022 in the doldrums, a number of tokens in the metaverse sector have seen considerable gains over the last several weeks, with 18 of the top 20 tokens in the sector seeing gains of up +319%, over the last 30 days.

On 2 February, Axie Infinity's [AXS] engine, the Ronin network, confirmed that users of the Play-to-Earn project could access loans directly in their wallet. According to the announcement, the feature was made available after the network's collaboration with MetaLend.

Despite operating losses in 2022 for the Reality Labs business, Meta Inc (NASDAQ: META) CEO Mark Zuckerberg reassured that the company is sticking to its long-term goals for Metaverse, leading to a surge in the prices of associated tokens. What Happened In the last 24 hours, Decentraland (CRYPTO: MANA) rose by 6.40% trading at $0.80.

A crypto gaming altcoin is following Axie Infinity (AXS) on a parabolic surge of its own, more than doubling in value this month. Ronin (RON), the Ethereum (ETH)-linked sidechain designed specifically for the Axie Infinity ecosystem, soared in price this month from $0.26 at the start of the year to $0.

Though Axie Infinity Shards (AXS), the cryptocurrency that powers one of web3's leading play-to-earn crypto games Axie Infinity, has now pulled back by close to 20% from the highs it hit above $14 per token just a few days ago, the cryptocurrency is still up around 90% this month.

The Axie Infinity price prediction may never be as bullish as it has been in recent years after the platform's recent problems. Investors have lost confidence in the project, and the game is attracting fewer and fewer players by the month.

Axie Infinity [AXS] noted gains of 138% from the swing low to the swing high of January until press time. The token's performance meant that sentiment in the bulls' camp was euphoric.